BP1 : BS4 - Primary Financial Statements

	Document Index Budget Paper 1 Budget Statement 4

Primary Financial Statements

Statement of Revenue and Expenses for the Commonwealth General Government Sector

	Note	Estimates	Projections
		1998-99	1999-00	2000-01	2001-02	2002-03
		$m	$m	$m	$m	$m
Revenues
Taxation
Income tax		104060	109950	111080	114200	121160
Indirect tax	2	30902	31979	22122	21960	23060
Other taxes fees and fines		5885	5849	6021	6305	6503
Total taxation revenue		140847	147779	139223	142465	150723
Non-taxation
Sales of goods and services		2505	2496	2562	2537	2494
Interest and dividends	3	6502	8844	5535	5605	6694
Net foreign exchange gains		360	0	0	0	0
Net gains from sales of assets		27	9	2	2	2
Other sources of non-tax revenue	4	3107	3700	3173	3150	3153
Total non-tax revenue		12502	15050	11271	11294	12343
Total revenue		153349	162828	150494	153759	163065
Expenses
Goods and services
Employees	5	15033	15016	14843	14912	15002
Suppliers	6	11670	13670	12198	12073	11700
Depreciation and amortisation	7	2308	2477	2776	2956	3169
Net write down of assets		1497	1431	1341	1277	1294
Net foreign exchange losses		-140	2	2	2	2
Net losses from the sale of assets		25	43	15	24	13
Other goods and services expenses		4899	5246	4913	5046	5292
Total goods and services		35292	37885	36089	36289	36472
Subsidies benefits and grants
Personal benefits		59105	61939	68851	71682	75956
Subsidies		3508	3824	4215	4540	4734
Grants	8	43013	44602	26607	28724	27760
Total subsidies benefits and grants		105626	110366	99674	10495	108449
Interest and other
Interest and other financing costs		9265	8860	8012	7122	6511
Total Interest and other		9265	8860	8012	7122	6511
Total expenses		150183	157111	143776	148357	151432
Operating result		3166	5717	6718	5402	11633
Abnormal and extraordinary items		624	10990	0	13293	15131
Operating result after abnormal items		3790	16707	6718	18695	26764

Balance Sheet for the Commonwealth General Government Sector

	Note	Estimates	Projections
		1998-99	1999-00	2000-01	2001-02	2002-03
		$m	$m	$m	$m	$m
Assets
Financial assets
Cash		1875	2006	1755	1581	1307
Receivables		20125	19964	24355	21942	20646
Investments	12	29319	25328	25491	24142	22720
Accrued revenue		385	423	399	447	522
Other financial assets		1254	1527	1795	2069	2342
Total financial assets		52958	49248	53794	50180	47537
Non-financial assets
Land and buildings		14448	14152	13895	13482	13526
Infrastructure		33955	35628	36947	38318	39431
Intangibles		601	740	709	616	528
Inventories		2902	2746	2639	2646	2584
Other non-financial assets	9	1615	1624	1599	1600	1597
Total non-financial assets		53520	54889	55789	56662	57666
Total assets		106478	104137	109583	106842	105203
Liabilities
Debt
Government securities	12	87322	64143	62541	38429	9257
Loans		5607	7455	7392	9330	9265
Leases		216	191	236	223	210
Deposits		559	632	705	778	851
Overdrafts		2	2	2	2	2
Other debt		2984	3228	3085	2642	2425
Total debt		96688	75651	73960	51403	22009
Provisions and payables
Employees	10	74710	75864	76881	77636	78351
Suppliers		2011	1851	1855	1844	1831
Personal benefits payable		1096	2261	2459	2639	2904
Subsidies payable		72	71	69	68	67
Grants payable	11	8147	8123	8162	8256	8089
Other provisions and payables		4305	4103	3239	3265	3428
Total provisions and payables		90342	92273	92664	93708	94670
Total liabilities		187030	167924	166624	145111	116679
Net assets		-80551	-63787	-57041	-38269	-11476
Equity
Accumulated results		-104822	-86603	-79870	-59679	-31274
Reserves		24271	22817	22829	21410	19798
Total equity		-80551	-63787	-57041	-38269	-11476

Statement of Cash Flows for the Commonwealth General Government Sector

	Note	Estimates	Projections
		1998-99	1999-00	2000-01	2001-02	2002-03
		$m	$m	$m	$m	$m
Operating activities
Cash received
Taxes fees and fines	13	139202	145411	134086	142894	150882
Sales of goods and services		3003	2811	2752	2584	2826
Interest		2158	2704	2662	2729	4135
Dividends		4258	6065	2915	2756	2393
Other		3043	3646	3078	3115	2655
Total operating cash received		151664	160637	145493	154078	162891
Cash used
Payments to employees		15574	13862	13826	14156	14287
Payments to suppliers		11244	13473	11796	11652	11304
Subsidies paid		3635	3826	4217	4541	4735
Personal benefits		58402	60774	68653	71503	75690
Grant payments		41666	44627	26569	28630	27927
Interest and other financing costs		9265	8860	8012	7122	6511
Other		5354	5449	5779	5021	5130
Total operating cash used		145141	150871	138854	142625	145585
Net cash from operating activities		6523	9766	6639	11453	17306
Investing activities
Cash received
Proceeds from asset sales program		5511	15828	-	15658	16698
Proceeds from sales of property, plant and equipment and intangibles		701	810	725	699	553
Other		170	3	25	-	-
Total investing cash received		6382	16641	750	16356	17251
Cash used
Purchase of property, plant and equipment and intangibles		4579	4989	4838	5055	4967
Net advance receipts		-	-	923	-	-
Other	12	783	248	187	372	458
Total investing cash used		5362	5237	5949	5427	5425
Net cash from investing activities		1020	11404	-5199	10930	11826

	Note	Estimates	Projections
		1998-99	1999-00	2000-01	2001-02	2002-03
		$m	$m	$m	$m	$m
Financing activities
Cash received
Other		630	317	118	73	73
Total cash received		630	317	118	73	73
Cash used
Net repayments of borrowings	12	6288	21330	1666	22174	29249
Other		995	25	143	456	230
Total cash used		7283	21355	1809	22629	29479
Net cash to/from financing activities		-6653	-21038	-1691	-22556	-29406
Net increase/decrease in cash held		890	131	-251	-174	-274